Wednesday, June 20, 2012

Daily Headlines: Wednesday, June 20, 2012

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Insurance Journal Daily Headlines
June 20, 2012
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Today's Headlines

National

MetLife Receives Fed Extension on Capital Plans

MetLife Inc. received a three-month extension from the U.S. Federal Reserve on its plans to return capital to shareholders, the company ...

Railroad Retaliated By Firing Workers Reporting Injuries: OSHA

The Occupational Safety and Health Administration is ordering railroad operator Norfolk Southern to pay more than $800,000 for firing a ...

Ratings Recap: Church Mutual, Ocean Harbor, HSBC (Del.), Golden RRG, Southern Pioneer, Affirmative

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and downgraded the issuer credit ratings (ICR) to "a" ...

Rockwood Programs Launches New EPLI Product

Rockwood Programs, Inc. has been appointed to serve as the national administrator of a new employment practices liability insurance (EPLI) ...

Actuaries: Health Costs to Go Up No Matter What Court Decides on Law

As the country awaits the highly anticipated ruling by the U.S. Supreme Court to uphold or overturn the Patient Protection and Affordable ...

RiskMeter.com Partners With BuildFax to Offer Roof Age Reports to Carriers

RiskMeter Online, a provider of real-time natural hazard risk reports, is now offering an enhanced product in conjunction with BuildFax, ...

From MyNewMarkets.com Public Companies Under Estimate Risk of D&O Lawsuit: Survey

Public company executives may be in for a surprise lawsuit. Despite the odds that they and their directors will be sued in the next 12...
Insurance Journal's Directory of E&S / Specialty Markets. Coming soon to inboxes, emails, and iPads everywhere!
East

Maryland Man Whose Companion Disappeared in Aruba Sues Over Insurance

A Maryland man who was suspected in the presumed death of his traveling companion in Aruba is suing to collect on a travel insurance policy ...

Connecticut Court: Ski Area Not Liable for Skier’s Injuries, Paralysis

The state Appellate Court says a ski area in New Hartford isn't liable for an accident in 2006 that paralyzed a 15-year-old boy. The ...

Millions for Home Foreclosure Prevention Program Unspent in R.I.

Only about one-third of the more than $79 million available from a federal foreclosure prevention program in Rhode Island has been spent to ...

CL&P, Connecticut’s Largest Utility, Fights Official Over Storm Costs

Connecticut Light & Power struck back Monday at Attorney General George Jepsen, who asked state regulators to punish the state's largest ...

New CEO Named for R.I.-Based Narragansett Bay Insurance Company

Pawtucket, R.I.-based Narragansett Bay Insurance Company has named Todd Hart as the new chief executive officer after a national search. ...
Midwest

Ruehle Named Midwest Branch Manager for United Fire Group

United Fire Group Inc., headquartered in Cedar Rapids, Iowa, announced that Corey Ruehle has accepted the position of branch manager for ...

Fiske Joins XL Group's Surplus Lines Team in Chicago

XL Group plc's insurance operations added Mary-Ellen (Mimi) Fiske as vice president, umbrella and excess manager to its surplus lines unit ...

Boeing Lauds Tornado Recovery by Key Kansas Supplier

Top Boeing Co. executives were in Wichita, Kan., on June 18 to celebrate tornado recovery efforts by parts supplier Spirit AeroSystems, ...

Co-Owner of Missouri-Based US Fidelis Pleads Guilty in Federal Case

For the second time in four days, the former co-owner of a once prominent marketer of auto service contracts has pleaded guilty. Cory ...
Southeast

Lawsuit Claims Driver in Kentucky Tour Bus Crash ‘Crazed,’ Speeding

A lawsuit filed over the wreck of a tour bus in south-central Kentucky this month contends the driver was operating the bus in a "crazed" ...

Arthur J. Gallagher Acquires Alabama’s Whitehaven Insurance

Illinois-based global insurance broker Arthur J. Gallagher & Co. has acquired Whitehaven Insurance Group, Inc. in Gulf Shores, Alabama. ...

Mississippi’s Columbus Earns Improved Fire Rating

A new ranking for the Columbus Fire Department could mean reduced insurance rates for home and business owners. The Commercial Dispatch ...
South Central

Dallas Hailstorm Loss Estimate Drops Below $1 Billion

Insured losses from last week's violent hailstorm in Dallas should be just under $1 billion, a trade group for Texas insurers said on ...

Texas Insurance Commissioner: Problems with Wind Insurer not New

Texas' top insurance regulator says the precarious financial position of the state's insurer of last resort for properties in coastal ...

Chubb Expands Wildfire Defense Services in Texas

The Chubb Group of Insurance Cos. has expanded its Wildfire Defense Services to most of Texas less than a year after the state experienced ...
West

NOAA In Midst Of Tsunami Debris Survey

Government scientists are in the midst of a 10-day trip, surveying southeast Alaska beaches for debris from last year's deadly tsunami in ...

Southern California Jurors Award $4.5M After Teacher Molest

San Diego County, Calif. jurors have awarded two girls $4.5 million because they were molested by their Carlsbad elementary school teacher. ...

Colo. Ranchers Selling Off Cattle To Avoid Drought Loss

Ranchers in western Colorado are selling off cattle to avoid losing them to a severe drought. Livestock auctioneer Bill Martin of Loma says ...

Colo. Supermax Inmates Sue Over Mental Health Treatment

Five inmates who say their mental health illnesses are deteriorating in solitary confinement inside the so-called Supermax prison in ...

Peterson Named EVP of Business Development for Atlas

Andrew Petersen has been named executive vice president of business development for San Diego, Calif.-based Atlas General Insurance ...

Jenkins Names Holden Vice President

Concord, Calif.-based Jenkins Insurance Group named Hale "Chip" Holden III a vice president. Holden's primary focus will encompass ...
International

G20 Backs Europe’s Plans for Euro Zone Overhaul to Fight Crisis

Europe won support from world leaders on Tuesday for an ambitious, but slow-moving, overhaul of the euro zone, even as pressure built in ...

UK Insurer Cancels Coverage on Russian Ship Going to Syria

A British company said Tuesday it has cancelled insurance for a Russian ship it says was carrying munitions to Syria - a shipment the ...

Marine Protection Provider GAC Urges ‘Non-lethal’ Measures for Ship Safety

London-based GAC Protective Solutions, a company specializing in providing onboard crew training, pre-voyage preparation and defensive ...

AIA Endorses Invitation to Mexico to Join Trans-Pacific Partnership

David F. Snyder, vice president and associate general counsel at the American Insurance Association, has issued a statement endorsing ...

Tropical Storm Chris Forms in Atlantic; No Threat to Land

The National Hurricane Center in Miami is currently tracking Tropical Storm Chris, the third named storm of the current Atlantic hurricane ...

Giancristofaro Appointed CEO for Willis' Re Brazil Operations

Willis Group Holdings announced the appointment of Luigi Giancristofaro as CEO for its reinsurance operations in Brazil (Willis Corretora ...

Applied Systems Names Purdy Sr. VP, General Mgr. for Canadian Operations

Insurance software company Applied Systems announced that Jeffrey D. Purdy has been appointed senior vice president and general manager of ...

Best Affirms Argo Re, Argo Group and Subs Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength ratings (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of ...
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Arrowhead Marine Program Wants Your Summer Boating Season Business

San Diego, CA, 06/20/2012 – With summer officially starting today and the boating season already underway, the Marine Program at ...
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Insurance Journal Blogs

TWIA Solvency Concerns Finally on Texas Lawmakers’ Radar

The Texas Windstorm Insurance Association has only about $3.6 billion in claims-paying resources "under a best case scenario," even ...

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Insurance Journal TV

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M&As Often Come with D&O Exposures

Companies must do their due diligence when acquiring foreign entities or they could end...
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Caution: D&O and Foreign Shareholders

Firms that heralded a 2010 U.S. Supreme Court case barring plaintiffs from bringing class...

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New Discussions in the Forums

Unfair Competition amongst brokers
Posted: Tue Jun 19 -- Thankfully karma always has its way of coming around.. As was mentioned before, they probably are only making themselves look bad. I'd... Auds
Do you use online leads services?
Posted: Tue Jun 19 -- It's really too bad that the lead gen business has gotten so lazy in terms of keeping quality. There are definitely lead companies that... Auds
Track Your CSR's Daily Sales Activity
Posted: Tue Jun 19 -- I agree with the others, that is too much. If you want to know, just run your activity report. You can sort by activity, by user, by date,... Kay-WA
How to grow an Insurance Agency one client at a time.
Posted: Tue Jun 19 -- I believe that part of running a successful insurance agency (and making great money in the process) is being a really great insurance... johnsharp
Can an employer fire an employee because their pre-convicted
Posted: Mon Jun 18 -- Can an employer fire an employee because their pre-convicted mugshot appears online on ... robertmarx
IA start up with a twist
Posted: Sat Jun 16 -- Thanks for the reply. Does this mean that this is how you started? Nothing new? Can you link me to a thread or article posted by someone or... JevonCC
Standalone Personal Articles Floater - California
Posted: Thu Jun 14 -- abacus.net seems interesting. Naturally, we prefer a carrier that we can work directly with instead of going through another agency. We're... onstar

Reader Comments

How Predictive Modeling Has Revolutionized Insurance
Posted: Mon Jun 18 -- This quack science has been used efefctively to restrict capacity and drive up price nothing more No more corretc than man caused climate... bill ford
N.Y. Orders 'Force-Placed' Insurers to Submit New Lower Rate Proposals
Posted: Wed Jun 13 -- Here's a novel idea. How about the homeowner get their own insurance, that will stop the price gouging. Also they shouldnt lower the... FLagent/insured
NV Couple Sues Boy Scouts Over Son's UT Drowning
Posted: Mon Jun 18 -- "the boy experienced "great physical agony, pain and suffering in the knowledge of impending death, emotional distress ... as well as the... Assunta
In the Workplace, What Do Millennials Want?
Posted: Fri Jun 15 -- Like Brokie I thought Somethoughts had a great response. My 2 cents: Right now we are seeing the older Boomers delay retirement longer than... Blue
Call to End NYC Carriage Horse Rides Renewed After SUV Crash Incident
Posted: Wed Jun 13 -- Hey, if Canadian tourist Fran Hill thinks they should stay, well that's good enough for me. If you can't trust the opinion of Canadian... Anejo

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June 18, 2012
Current Issue
Umbrellas - Personal & Commercial; Construction; Apartment Buildings

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